Kate Spade and her husband, Andy Spade, left their company in 2007. Their departure came after the brand had passed through a major ownership transition, rather than at the moment Kate Spade New York was founded or first became profitable.
Kate and Andy Spade co-founded the handbag company in 1993 with Elyce Arons and Pamela Bell. Kate designed the bags, while Andy helped develop the business and brand. The company opened its first boutique in Manhattan’s SoHo neighborhood in 1996 and expanded from handbags into shoes, stationery, eyewear, jewelry, clothing, fragrances, and home goods.
A common mix-up is 2006: that was the year Neiman Marcus sold the company to Liz Claiborne. The Spades’ operational departure followed in 2007, when control of the business had shifted to the new owner. Kate later spent time focusing on her family before launching the Frances Valentine brand with Elyce Arons in 2016.